Citigroup commercial, investment banking to form 1 unit

01/15/2009 | Financial Times (free content)

The "banking supermarket" business model is being questioned, with Citigroup deciding to break itself up, but insiders said the banking giant is committed to investment-banking activities that focus on its clients. Citi plans to offer services in advisory, credit and capital markets to its clients, companies and subsidiaries worldwide through a combined commercial- and investment-banking division. While the bank will trade on behalf of its clients, it is reining in proprietary trading, sources said.

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